Farm Estate Planning

Farm Estate Planning

Farm estate and corporate estate planning are very similar but for one fact: most families don’t live in their business. Farmers and their families live in the office – often for many generations – and there are strong feelings about what should happen to an aging farmer’s business.

No matter what planning is in place, families can often avoid paying tax when a farmer dies. They cannot – without proper planning – avoid problems created by having more than one surviving child and only one farm to distribute. If a family decides to sell a farm, this problem is easily solved. But it is a much larger issue if the business is being passed on to just one child.

Planning and implementing the right choices and complimenting estate tools will resolve most issues farming families face. All you must do is ask the right people the right questions.

With 28 years of experience working with farmers across Canada, Markewich Financial is the right place for you to start.